| Golly of all the ethanol plants out there... Why is an Oil Company the first to say it can't pay it's bills?
https://www.agra-net.com/agra/world-ethanol-and-biofuels-report/analysis/company/united-states---valero-shuts-ethanol-plants-declares-force-majeure-due-to-virus--1.htm
Is Valero in Trouble?
http://www.investorvalero.com/financial-information/annual-reports
(skipping past the "Stewardship and Responsibility report.. http://www.investorvalero.com/static-files/81cd437e-c575-4c5a-98a4-c69a41baf71d )
Guess that's worth toilet paper..
They made.. http://www.investorvalero.com/static-files/fb83f183-2552-41ac-ae52-5799da708ac1
$4.5 Billion last year.. and now Crude is dirt cheap.. hmmm.. isn't that good for a refiner?
So.. Gasoline sales sucks..
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WGFUPUS2&f=W
| Weekly U.S. Product Supplied of Finished Motor Gasoline (Thousand Barrels per Day) | | |
| Year-Month | Week 1 | Week 2 | Week 3 | Week 4 | Week 5 |
|---|
| End Date | Value | End Date | Value | End Date | Value | End Date | Value | End Date | Value |
|---|
| 2020-Jan | 01/03 | 8,133 | 01/10 | 8,558 | 01/17 | 8,662 | 01/24 | 8,793 | 01/31 | 8,933 | | 2020-Feb | 02/07 | 8,722 | 02/14 | 8,918 | 02/21 | 9,035 | 02/28 | 9,186 | | | | 2020-Mar | 03/06 | 9,449 | 03/13 | 9,696 | 03/20 | 8,837
|
down 859 k bbls.. bummer.. kind of like the corn market.
Where as Ethanol blended..
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=w_epooxe_yir_nus_mbbld&f=w | Weekly U.S. Refiner and Blender Net Input of Fuel Ethanol (Thousand Barrels per Day) | | |
| Year-Month | Week 1 | Week 2 | Week 3 | Week 4 | Week 5 |
|---|
| End Date | Value | End Date | Value | End Date | Value | End Date | Value | End Date | Value |
|---|
| 2020-Jan | 01/03 | 801 | 01/10 | 854 | 01/17 | 864 | 01/24 | 873 | 01/31 | 888 | | 2020-Feb | 02/07 | 873 | 02/14 | 896 | 02/21 | 902 | 02/28 | 897 | | | | 2020-Mar | 03/06 | 919 | 03/13 | 915 | 03/20 | 874 | | | |
|
is down.. 41 k bbls this week.. probably gonna be lower next week.. ??
Okay so EVERYONE is Shutting down.. (but some aren't paying their bills...??? poor little oil companies..)
How long can we go?
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPOOXE_SAE_NUS_MBBL&f=W | Weekly U.S. Ending Stocks of Fuel Ethanol (Thousand Barrels) | | |
| Year-Month | Week 1 | Week 2 | Week 3 | Week 4 | Week 5 |
|---|
| End Date | Value | End Date | Value | End Date | Value | End Date | Value | End Date | Value |
|---|
| 2020-Jan | 01/03 | 22,462 | 01/10 | 23,006 | 01/17 | 24,031 | 01/24 | 24,244 | 01/31 | 23,474 | | 2020-Feb | 02/07 | 24,358 | 02/14 | 24,781 | 02/21 | 24,718 | 02/28 | 24,964 | | | | 2020-Mar | 03/06 | 24,334 | 03/13 | 24,598 | 03/20 | 24,140 |
If we take production to Zero.. and stocks are 24,140 / 874 last week = 27.6 weeks before we Drain it all.
Which we also export and use ethanol for industrial purposes.. (yes including hand sanitizer.. ) the Actual IMPLIED Burn rate for last week per my spreadsheet was.. 1,070 k bbls
Thus 24,140 / 1,070 = 22.5 weeks.
So IF we are going to shut it down.. then Ethanol will start to rise in PRICE..
We have a RULING Which we will DEFEND!! That ILLEGAL SMALL REFINERY EXEMPTIONS will STOP!!
Read that again.
So are we going to Allow the Poor Broke Oil Companies to Not follow through on THEIR OBLIGATIONS like the REST of US or NOT?!?
I guess if you don't steal more than $500 in San Francisco.. there's nothing the cops can do about it.. looks like the Oil Companies are taking notes.
Earth to the Oil Companies.. Do ya REALLY WANT THIS IMAGE now?
Venezula Nationalized it's Oil Companies... hmmm..
What would President Bernie do?
or Biden..
or even Speaker Pelosi..?? She's railing right now on the telly how she's such a Savior for the Working man against those BIG EVIL CORPORATIONS..
Maybe ya'll better take stock of the Friends ya still got left..
Edited by JonSCKs 3/26/2020 10:04
|
Valero can't pay it's bills? Poor little Multi Billion $$$ Oil Companies.
